Ranger Energy Services (NYSE:RNGR) Posts Quarterly Earnings Results, Misses Expectations By $0.33 EPS

Ranger Energy Services (NYSE:RNGR) released its quarterly earnings data on Monday. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.33), Zacks reports. Ranger Energy Services had a return on equity of 8.36% and a net margin of 3.92%.

Ranger Energy Services Stock Performance

RNGR stock opened at $13.79 on Monday. The firm has a market cap of $301.06 million, a P/E ratio of 13.92 and a beta of 0.39. Ranger Energy Services has a 1 year low of $10.56 and a 1 year high of $18.45. The stock has a 50-day simple moving average of $13.69 and a 200-day simple moving average of $12.75.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Ranger Energy Services from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. Piper Sandler initiated coverage on Ranger Energy Services in a research note on Monday, July 14th. They issued a “neutral” rating and a $13.00 price objective on the stock. Weiss Ratings upgraded Ranger Energy Services from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Finally, Zacks Research downgraded shares of Ranger Energy Services from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 13th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.00.

Insiders Place Their Bets

In other Ranger Energy Services news, Director Brett T. Agee sold 36,374 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $14.49, for a total value of $527,059.26. Following the completion of the sale, the director owned 1,001,805 shares of the company’s stock, valued at $14,516,154.45. This trade represents a 3.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last three months, insiders sold 81,688 shares of company stock valued at $1,140,042. 2.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP lifted its holdings in Ranger Energy Services by 51.7% in the 2nd quarter. Quantbot Technologies LP now owns 6,277 shares of the company’s stock worth $75,000 after buying an additional 2,140 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of Ranger Energy Services during the second quarter valued at about $125,000. Osaic Holdings Inc. increased its position in shares of Ranger Energy Services by 134.1% during the second quarter. Osaic Holdings Inc. now owns 10,626 shares of the company’s stock worth $127,000 after acquiring an additional 6,087 shares during the last quarter. Envestnet Asset Management Inc. acquired a new position in shares of Ranger Energy Services in the second quarter worth about $132,000. Finally, Oxford Asset Management LLP acquired a new position in shares of Ranger Energy Services in the second quarter worth about $174,000. 68.10% of the stock is currently owned by hedge funds and other institutional investors.

Ranger Energy Services Company Profile

Ranger Energy Services, Inc provides onshore high specification well service rigs, wireline services, and complementary services to exploration and production companies in the United States. It operates through three segments: High Specification Rigs, Wireline Services, and Processing Solutions and Ancillary Services.